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Indian Bank launched 10 startup cells on the Independence Day

August 16, 2023

Indian Bank launched 10 startup cells on the Independence Day
Indian Bank a leading Public Sector Bank, has opened 10 startup cells across different locations on the eve of 77th Independence Day and 117th foundation day. S L Jain, MD and CEO, Indian Bank inaugurated the startup cell at Chennai Centre and virtually inaugurated start-up cell across major start up hubs in the nation, including Ahmedabad, Bangalore, Coimbatore, Delhi, Gurgaon, Guwahati, Hyderabad, Kanpur and Mumbai.

Under the initiative, a bouquet of tailor-made banking products and services are designed for startups keeping in mind their unique and specialized banking requirements. It includes offering payment gateways, corporate credit cards and credit facilities apart from other existing products of the bank. With the aim to bolster the start-up ecosystem and address the unique financial challenges faced by these dynamic enterprises, Indian Bank has formulated customised loan product \’IND SPRING BOARD\’ for meeting credit requirement (OPEX/CAPEX) of Start-ups. Indian Bank has also entered into strategic collaborations with renowned institutions viz IITs / IIMs and Incubation Cells, fostering an environment of growth and innovation.

“The launch of the startup cells is a major milestone in Indian Bank’s journey to support the growth of the startup ecosystem in India,” said, S L Jain, Managing Director and CEO, Indian Bank. The Indian Bank start-up branches will have dedicated Relationship Managers, who would partner with start-ups and build lifecycle engagement with them. This will also enable us to contribute to the Government of India and State govt efforts to promote start-ups.
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